The Scandinavian digital marketing firm Catena Media experienced a phenomenal initial two quarters of 2017, witnessing a 78% surge in earnings compared to the corresponding timeframe the previous year.
The organization amassed a substantial €30 million in overall income for the first six months, practically doubling the €17 million generated during the equivalent period in 2016.
Their operational gains also received a significant upswing, escalating by 45% to €12 million, a rise from €8.25 million in the first half of the preceding year.
Catena Media observed a comparable pattern with their profit before interest, taxes, depreciation, and amortization (EBITDA), which leaped by 55% to €13.49 million in contrast to €8.66 million during the same period in 2016.
Furthermore, they attracted an unprecedented volume of fresh depositing clients – a remarkable 115% increase compared to the identical timeframe the year before. This equates to 171,643 new patrons in the first half of 2017, a significant rise from 79,851 in the corresponding period of 2016.
Robert Andersson, Chief Executive Officer of Catena Media, expressed enthusiasm regarding their accomplishments. “With robust fundamental performance and the athletic season commencing in mid-August, we are advantageously situated for a prosperous latter half of the year,” he conveyed in a communication.
Andersson exudes confidence in Catena Media’s continued triumph. “We maintain an optimistic outlook on our strategic, operational, and financial progression and firmly believe that we will sustain growth in this successful manner, both organically and through acquisitions within existing and emerging sectors.”
A prominent online gambling firm, Catena Media, recently announced robust financial results despite encountering a hurdle in the Netherlands. The Dutch gaming regulator issued a stop order against Catena, alleging that promotional tactics used by some of its iGaming platforms violated Dutch rules.
Chief Executive Michael Andersson responded to worries, stressing that Catena Media operates in full accordance with all regulations and legislation applicable to its associates. He affirmed that the company has consistently prioritized ethical advertising and interaction with its users.
Andersson elaborated that the Dutch gaming authority has lately taken a more stringent position on iGaming sites targeting players in the Netherlands. Consequently, Catena Media has proactively opted to temporarily retreat from the Dutch market to guarantee full conformity with the changing regulations. Although this choice will have a near-term effect on earnings, potentially diminishing it by €1-1.5 million monthly, the company maintains it solidifies their standing for a triumphant comeback when the Dutch market reopens.